Gold prices held steady on Tuesday thanks to the positive sentiment surrounding the US central bank's decision not to raise interest rates this month.
The US Dollar Index (DXY) initially fell but is forecast to fall further due to the Fed's tightening monetary policy. Regional banks in the United States are using credit filters, which can lead to a drop in economic activity. Disappointing economic data could lead to the Fed ending up raising rates. Survey predicts GDP growth in the second quarter will be less than 0
The market predicts the Fed will keep interest rates at current levels at next week's monetary policy meeting with 85% probability. In general, in the short term, Gold can still maintain its upward momentum if the 1950-1940 price zone still holds the bears. Then it's not difficult to crawl back to 1975 or even 1985
The US Dollar Index (DXY) initially fell but is forecast to fall further due to the Fed's tightening monetary policy. Regional banks in the United States are using credit filters, which can lead to a drop in economic activity. Disappointing economic data could lead to the Fed ending up raising rates. Survey predicts GDP growth in the second quarter will be less than 0
The market predicts the Fed will keep interest rates at current levels at next week's monetary policy meeting with 85% probability. In general, in the short term, Gold can still maintain its upward momentum if the 1950-1940 price zone still holds the bears. Then it's not difficult to crawl back to 1975 or even 1985
